Replies to post #302360 on Plastic2Oil Inc (PTOI)

[underdog150]

If you go back far enough, you will notice that rotten carrot has been dangling for years.

Okay, I am reading years of info, and this is my understanding where the company currently is.....
Plastic2Oil is in agreement with Veridisyn Technologies, LLC.
Veridisyn Technologies, LLC is owned by Robin Curtis.
Robin and Dana Curtis once owned GenAgain Technologies with plans to purchase waste plastic to fuel process from Agilyx Corp. This partnership never happened and GenAgain was not successful.
Researching Agilyx Corp. this is a private company, and GenAgain was a private company.
So, I highly doubt this new contract between Plastic2Oil and Veridisyn is a sham or stock pump, clearly they are trying to move forward and produce waste to fuel for sales.

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July 2014

the Company is working very closely with a highly regarded national engineering firm and its clients to complete sales of processors, which such firm is currently qualifying the JBI Flagship Processor for sales to its clients. The Company intends to focus on the technology, develop unique feed systems for customer-specific requirements, and to manufacture the core processor components. In addition to its sales assistance, Company Management anticipates having the engineering firm install, operate and maintain processors as well as provide all auxiliary support systems. This will enable Management to focus on potential customer implementations. The Company has refined its Flagship Processor to commercial ready standards and it is ready for sale.

5/2015

I am pleased to provide you with this update regarding the business of Plastic2Oil, Inc. (P2O). As you know, on January 2, 2015, we announced that we had contracted to sell up to six processors to EcoNavigation LLC upon the completion of a pilot study. Shortly afterward, EcoNavigation presented P2O with several promising opportunities and currently P2O and EcoNavigation are involved in multiple, complex negotiations for the potential sale and implementation of P2O processors with several end-users and organizations.

P2O and EcoNavigation began discussions with a firm in the southern U.S. regarding a development project that has the potential for the deployment of more than 30 processors over the proposed project development period. This project has required significant attention from the P2O, EcoNavigation, and O'Brien & Gere project opportunity team. Assuming P2O consummates the deal, the anticipated testing requirements will be a three to five day run of the firm's specific feedstock. If testing is successful, we are expecting an initial purchase order for 12 processors for phase one of the project. In light of this new opportunity presented by EcoNavigation and the expanded scope of our relationship, we have agreed to extend our agreement with EcoNavigation for an additional ninety days under our current terms.

In addition to the above, a third opportunity for a three processor site, located in the northern states, is being worked on by the above mentioned project opportunity team, and is very close to completion. EcoNavigation continues final negotiations and work on structuring and financing.

Although there can be no assurance that our current negotiations will result in definitive agreements or successful sales, I am personally optimistic and so I wanted to share this information with you. I encourage all investors to review P2O's periodic filings made with the Securities and Exchange Commission in order to keep apprised of any further developments.

9/2015

First, we are happy to announce that one of the projects we are considering for the Northeastern U.S. region is with Madison County, New York. Together with EcoNavigation ("EcoNav"), we are currently working to complete a deal that may provide for the sale and installation of up to six processors in Madison County. The project is subject to EcoNav obtaining suitable financing, which is presently in the final stages.

You might be interested to know that earlier this year, we received a letter from Madison County to Plastic2Oil, which states in relevant part, "Madison County has long been aware of the P2O technology and is excited to see a project established at the ARE (Agriculture and Renewal Energy) Park, as it is consistent [with] our concept and goals of future projects."

In addition, we remain optimistic about negotiations surrounding several additional potential projects, each of which could lead to the sale or licensing and installation of several processors. Due to the size and scope of the potential projects, the task of due diligence is extremely robust. We are, however, making measurable progress but, of course, there can be no assurances that these potential projects will be completed. The scope of work we are doing with EcoNav has expanded beyond the initial deal, which we announced several months ago, and we will work with EcoNav to amend our agreements as necessary to accommodate the further opportunities.

9/2016

The company has recently finalized a Memorandum of Understanding (MOU) with a Southern U.S. company regarding potential licensing of the company's technology and a potential sale of units. The MOU, which is non-binding, sets forth an understanding between Plastic2Oil and a potential partner regarding mutual intent to negotiate and enter in definitive agreements providing for cooperation and collaboration on business ventures related to the production and sale of fuel derived from plastics. The definitive agreements will encompass the first site housing two processors and will define the rights of the partner to develop additional (15-20) facilities. Material developments regarding this relationship will be disclosed in a timely fashion at the appropriate time. There can be no assurance that this MOU will lead to entry into a definitive agreement with the potential partner or that any such venture will generate revenue or profits for Plastic2Oil.

The company is also currently working with a vendor to supply full control systems for Processors #4 and #5, the machines that would be first to be deployed in the event that a sale, license, JV, or other business venture is consummated. The company also remains in active talks with other vendors regarding fabrication and supply of the remaining components of its Plastic2Oil processors.

12/2016

In August 2016, we announced the signing of a memorandum of understanding with a potential partner regarding the licensing of our technology and a potential sale of processor units. We are still in the process of negotiating a definitive agreement with the potential partner. If consummated, it is anticipated the first site would house two Plastic2Oil processors, and eventually may lead to deployment of processors in 15 to 20 similar facilities. We look forward to updating our shareholders upon the signing of a definitive agreement.

5/2017


In August 2016, we announced the signing of a memorandum of understanding (MOU) with a potential partner regarding the licensing of our technology and a potential sale of processor units. On March 26, 2017, the parties agreed to extend the term of the MOU to May 24, 2017. There can be no guarantee that a definitive agreement will be executed prior to expiration of the extended term of the MOU.

Robin Curtis, a pioneer in the implementation of plastic-to-fuel technology and a participant in the proposed partnership, recently noted: "The market opportunity for plastic to fuel is even more promising today than it was years ago. It appears evident that the Plastic2Oil technology solved the problems that had been encountered in our previous attempts to implement plastic to fuel technology. We now look forward to the opportunity to implement Plastic2Oil technology."

We are still in the process of negotiating a definitive agreement. If consummated, it is anticipated that the first site would house two P2O processors, and could eventually lead to deployment of P2O processors in 15 to 20 similar facilities. The initial purchase order will be for the two units currently in our inventory. Final assembly and testing of the units prior to shipping will require approximately six months from signing of the purchase order. Instrumentation and other necessary equipment will be secured prior to the shipping date. Several additional months will be required for installation after the units have been shipped.

10/2017

In July 2017, we announced the signing of a new memorandum of understanding (MOU) with a potential partner regarding the licensing of our technology and a potential sale of processor units. We are still in the process of moving from the MOU to a definitive agreement.

If and when the agreement is consummated, it is anticipated that the first site, located in the southern United States, would house two P2O processors, and could eventually lead to deployment of P2O processors in 15 to 20 similar facilities. The initial purchase order would be for the two units currently in our inventory. Final assembly and testing of the units prior to shipping would require approximately six months from signing of the purchase order. Instrumentation and other necessary equipment would be secured prior to the shipping date. Several additional months would be required for installation after the units have been shipped.

In addition, we are in the early stages of discussion with two potential partners in Canada regarding the licensing of our technology and potential sale of processor units. Of course, we cannot assure you that we will reach a definitive agreement on either of these projects, however, management remains optimistic about the opportunities that lie ahead.

12/2017

Plastic2Oil, Inc (P2O) today announced that on December 21, 2017 it signed a Master Agreement with Veridisyn Technologies, LLC (Veridisyn), a company engaged in development of alternative energy projects, under which Veridisyn has agreed to license P2O’s technology and purchase P2O processors. This new strategic partnership combines Veridisyn’s extensive experience in processing waste plastics with P2O’s proprietary technology for deriving ultra-clean, ultra-low sulphur fuel that requires no further refining, directly from unwashed, unsorted waste plastics.

As more particularly set forth in P2O’s Form 8-K filed with the SEC on December 22, 2017 , expected minimum gross proceeds to P2O will be $4 million from the initial sale of two P2O processors to Veridisyn. P2O believes the strategic partnership, if successful, could result in the sale and deployment of 30-40 processors at Veridisyn sites, for $90 million to $120 million in future revenues (based on a $3 million price per processor).

In addition, once the processors have been fully deployed, P2O will receive a royalty of 5% of gross fuel sales by Veridisyn, and no less than $0.50 per pound for use of its proprietary catalyst. P2O will also provide on-going monitoring and maintenance services at agreed upon costs and rates. The term of the agreement is twenty years.

According to P2O CEO, Rick Heddle, “By turning waste plastic into fuel without any hazardous waste, this joint industry solution will help accelerate plastic recycling in cities, towns and industrial plants, and be a major step forward in meeting a significant environmental challenge.”

“I am very excited about moving forward with Plastic2Oil in implementing its breakthrough technology to leverage the substantial global market opportunity for plastic to fuel solutions,” said Veridisyn Managing Director Robin Curtis.

8/2018

“We are pleased to have secured the financial commitments that should allow us to re-initiate the processing of used oils and film plastics and we thank our two directors for their financial support and faith”, stated CEO Rick Heddle. “We are also looking forward to accelerating our work with Veridisyn in the near term, as they work to complete the remainder of their financing and other planning efforts in support of our Master Agreement. While it has taken longer than either party had initially planned, the progress has been moving along well and we look forward to a mutually beneficial partnership in the future.”

[jaxstraw]

Factually incorrect once again.

Robin and Dana Curtis once owned GenAgain Technologies with plans to purchase waste plastic to fuel process from Agilyx Corp. This partnership never happened and GenAgain was not successful.

GenAgain and Robin Curtis opened a plant in Georgia that failed after being open for about a year.
It did use the first generation of Agilyx technology.

[jaxstraw]

As long as you are bringing up Agilyx did you see the major deal just announced ?

This is how a real waste to energy company gets it done.....not by going out of operations and letting the machines rust for 5+ years as Heddle has done.

Agilyx, developer of a process to convert waste plastics to fuels and chemicals, is collaborating with Monroe Energy, a wholly owned subsidiary of Delta Air Lines, to supply up to 2,500 barrels per day (bbl) of Agilyx’s synthetic feedstock

https://www.greencarcongress.com/2018/11/20181116-agilyx.html